The Mortgage Industry Standards Maintenance Organization (MISMO) has updated its Mortgage Insurance Implementation Guide to incorporate data requirements for VantageScore 4.0 and FICO 10T, the Mortgage Bankers Association (MBA) subsidiary announced Thursday.

The guide provides a standardized data framework for electronic information exchange between lenders and mortgage insurers across key processes, including mortgage insurance (MI) rate quotes, commitments, contract underwriting, document delivery and querying for MI order responses, according to the announcement.

The latest changes add support for the newer credit models that Fannie Mae and Freddie Mac are expected to adopt as part of the Federal Housing Finance details ⇒